Property value increases in Rushworth have tracked just higher than the VIC average of -1.79% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Rushworth has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -6.05% to buyers in Rushworth at the moment, which is less than average for the rest of VIC.
At number 3055 in a list of fastest selling suburbs, Rushworth is in the bottom 20% of suburbs in Australia with an average of days on market 107.824 for properties listed there.
Renters in Suburb are facing rents around $14300 per annum or $275 every week.
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Gold rush town enjoys a golden growth period
Median house price: $210,000
Three-year growth: 32.91%
Rental yield: 5.70%
The suburb of Rushworth got its name from its inception during the 1853 gold rush in Victoria. While the rush is long over, the suburb is riding the waves of sustained growth.
Houses are astoundingly affordable at just $210,000 even after a significant price increase of over 12% in the February 2017 quarter alone. The almost 6% average yield is certainly eye-catching for investors, along with the potential shown for long-term growth seeing as the market has not fumbled in five years.
Rushworth is home to a few schools, including a P-12 college and St Mary’s primary school. There’s also a bakery/café. The suburb has much to offer as a tourist spot – there’s the local heritage walk and the Rushworth museum, for example. The Rushworth State Forest is located nearby and is perfect for bushwalking. 8km north of the suburb, Waranga Basin is a popular fishing destination.